Sunday, April 8, 2012

Noida realty scores on the back of strong infrastructure

Infrastructure like roads, sewerage, power and water supply, etc, which has been developed in Noida, is far better than those in most new cities and urban agglomerations that have come up in the country.

Excellent connectivity to New Delhi, Gurgaon and Faridabad has also made Noida a destination for business travellers and investors.

Noida is also safe from any land disputes and is good for buyers, investors, developers and even farmers. Noida Authority is close to solving the abadi disputes and disbursing additional compensation of 64.7% in cash and 5% of the developed land as directed by the Allahabad high court.

S K Dwivedi, the chief executive officer of Noida Authority, says: “We have almost solved the abadi issues in all the disputed lands of 34 villages under the new law, Abadi Niyamawali of June 30, 2011. Farmers can use the land according to their wish. To solve the disputes, the authority has allotted 1,000 plots (totalling 70,000 sq metres). Since the agitation over land acquisition began, farmers have been making several demands and have threatened to stop developmental work. After this, we are on the way to disburse an additional compensation to all the farmers belonging to 15 villages, who went court over the land row. The latest verdict of Allahabad high court has given direction to give an additional compensation. The authority has taken it seriously and is on the job, treating it as top priority.”

“In line with the court verdict, the Noida Authority has to disburse Rs 1,100 crore as an extra amount to farmers. We have already disbursed Rs 255 crore. The relevant files are being readied for giving out the rest of the money. To allot 5% extra developed land on the court direction, the authority needs nearly 200 hectares of land. Keeping the shortage of land in mind, this is really a challenge to us.”

Dwivedi says: “Undoubtedly, Noida has emerged as a preferred destination for thousands of families who look for the advantages of a metropolitan framework, but without all the attendant evils of pollution and cramped living normally associated with a major metropolis. This city has advantages like international-quality infrastructure, uninterrupted power and water supply, and a proposed international airport (at Jewar). With these facilities, Noida is one of the fastest developing residential and commercial hubs in the country. IT, insurance, institutional and residential sectors in the region are the main engines of growth around which the entire township is being developed. Noida authority is ensuring that the place has world-class infrastructure where every sectoral player would like to come and invest.”

“The NCR Planning Board has already approved Master Plan 2031 of Noida, which was drafted in 2009. In the plan, there is a lot of scope for infrastructural, residential and commercial development like widening of roads with underpasses and flyovers, highrise projects, hotels, major Metro and road linkages to ease the traffic,” Dwivedi says.

“Under the Abadi Niyamawali (law) of June 30, 2011, Noida authority is regularizing abadi of all disputed villages. In addition, demands of special quota for farmers’ children in educational institutions have also been accepted. Most of the demands like increased compensation and plotted development have also been made. This will greately facilitate in the resumption of construction work,” Dwivedi says.

Dwivedi says “The authority is working to decongest various bottlenecks that are

coming in the way of smooth traffic. The roads along Sector 18, Rajni Gandha Chowk, Sector 37 and Choura Mor, among others, have been widened to meet the increasing traffic. Many elevated roads, underpasses bridges have been proposed. The DPR (detail project report) of Metro lines on six different routes is also under preparation.” Noida is very popular for institutional, residential, industrial and IT developments. Many MNCs and domestic companies have set shop.

The authority has earmarked a lot of space for developmental works to encourage more MNCs into the place. On the requisition of the BCCI (Board of Control for Cricket in India), the Noida Authority has allocated 40 acres land for an international cricket ground in Sector 101, 102, 103 in the 300 acre sports complex near the expressway, Dwivedi says.

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